Gifting

My mother in law wants to help us out and give/gift us $80,000.

I have researched via google and there is centerlink implications relating to claiming the old age pension if she does.

However she is still working full time and would not qualify for the age pension when/if she does.

She was also concerned that the government (department) would track the payment as it is over $10,000.

Looking for advise to ensure what she wants to do is ok and wont have any negative effect to her.
 
If she won't qualify for the pension what possible other effect is there?

Is she planning to give you the money in cash (notes)? - Is she a drug or arms dealer?
 
Several Issues

1. MIL later goes bankrupt. Gift can be clawed back.

2. MIL dies. Disputes arise over whether that was a gift of loan
2a. MIL dies. Money could possibly be clawed back if someone makes a family provision claim.

3. Divorce. You divorce. You get a share of the money if it was a gift. If a loan MIL gets it back.

4. Arguments. Years down the track MIL wants the money back.

5. Centrelink. MIL may not think she needs the pension, but circumstances may change. Centrelink will treat her as still having the money and earning an income from it for 5 years

6. Asset protection if you/spouse go bankrupt. If it was a loan MIL could join creditors and get some money back.

7. Government tracking??? Unless it was cash it would be a transaction which is recorded. Unless it is the proceeds of crime or money being laundered not much to worry about I think.
 
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